Wavetronix, a supplier of radar traffic detection and monitoring technology, announced that it has signed a letter of intent to acquire Island Radar Company LLC.
No terms were disclosed.
Island Radar, a private company based in Olathe, Kan., is a developer of radar-based systems used to detect vehicles and trains in railroad applications. Under the agreement, Island Radar products and systems will be marketed under the Island Radar brand through Wavetronix Rail, a newly-formed division of the Provo, Utah-based company.
The relationship between Island Radar and Wavetronix began in 2011, when the two first collaborated on the development of radar-based detection for the rail industry. Wavetronix at the time had a record of successful radar deployments for highways and intersections, and Island Radar founder and president Tom Hilleary, in partnership with the state of Illinois, BNSF Railway and the Federal Railway Administration secured funding to develop and test Wavetronix radar for a unique four-quadrant gates-crossing warning system. Today, Island Radar’s products are used by numerous freight, passenger and transit railroads throughout the United States.
“Island Radar has relied on the superior sensor technology developed by Wavetronix and has integrated that technology into railroad industry-compliant systems,” Hilleary says.
Wavetronix Rail will continue to maintain offices in the Olathe area; its global headquarters are in Utah.
“Wavetronix has demonstrated its value as a respected, trusted partner in solving difficult traffic problems around the world, and we believe our experience will be an asset to the rail industry,” says Michael Rose, vice president of business development for Wavetronix Rail. “We are eager to move from our core Intelligent Transportation Systems and traffic business and embrace the challenges that the rail industry will present for us.”
Rose says the two companies will work together to develop new products and solutions to enhance safety in combined railroad and automotive traffic applications. “We are equally excited to work with Mr. Hilleary and to benefit from his exceptional leadership and vision. Together we believe we can respond to the rail industry’s unique and challenging detection needs.”
“This acquisition not only accelerates Wavetronix’ entry into the railroad sector, but it also expands the engineering, sales, and support functions necessary to bring technologies developed by Island Radar to a global railroad market,” said Hilleary.